Proficio Capital Partners LLC Acquires New Position in SL Green Realty Corp. (NYSE:SLG)

Proficio Capital Partners LLC purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 113,438 shares of the real estate investment trust's stock, valued at approximately $7,705,000. Proficio Capital Partners LLC owned 0.17% of SL Green Realty at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SLG. Venturi Wealth Management LLC increased its holdings in shares of SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 272 shares during the period. Victory Capital Management Inc. increased its stake in SL Green Realty by 6.1% in the 3rd quarter. Victory Capital Management Inc. now owns 23,900 shares of the real estate investment trust's stock valued at $1,664,000 after buying an additional 1,380 shares during the period. Metis Global Partners LLC boosted its stake in shares of SL Green Realty by 31.3% during the 3rd quarter. Metis Global Partners LLC now owns 6,674 shares of the real estate investment trust's stock valued at $465,000 after buying an additional 1,591 shares during the period. Quest Partners LLC grew its holdings in shares of SL Green Realty by 350.8% during the 3rd quarter. Quest Partners LLC now owns 2,691 shares of the real estate investment trust's stock valued at $187,000 after acquiring an additional 2,094 shares in the last quarter. Finally, LMR Partners LLP purchased a new position in shares of SL Green Realty during the 3rd quarter valued at $365,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This represents a 62.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on SLG shares. Compass Point lifted their price objective on SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their price target on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Jefferies Financial Group started coverage on SL Green Realty in a report on Monday. They issued a "hold" rating and a $58.00 price objective on the stock. Mizuho lifted their target price on shares of SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Finally, Barclays lowered their target price on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $69.87.

SL Green Realty Stock Performance

NYSE SLG traded up $0.85 during trading on Wednesday, hitting $58.68. The company's stock had a trading volume of 453,489 shares, compared to its average volume of 795,454. SL Green Realty Corp. has a 52 week low of $47.22 and a 52 week high of $82.81. The firm has a market cap of $4.18 billion, a P/E ratio of 733.50, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The firm has a 50 day moving average price of $63.66 and a 200 day moving average price of $69.24. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Equities research analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.2575 dividend. The ex-dividend date was Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a dividend yield of 5.27%. SL Green Realty's dividend payout ratio is currently 3,862.50%.

About SL Green Realty

3SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.